The head of TotalEnergies proposed a solution to the problem of the Strait of Hormuz

Patrick Pouyanne, head of TotalEnergies, believes that investments in the construction of new pipelines can reduce the dependence of global energy on the stability of the situation in the Strait of Hormuz. This was reported on April 25 by Agence France-Presse (AFP).

According to Pouyanne, when investing in projects in the Middle East, it is necessary to ensure the sustainability of the entire system. Pouyanne stressed that there is currently a shortage of escape routes from the Strait of Hormuz, which is a serious problem for the industry. He suggested considering the creation of an extensive pipeline network as a necessary investment in energy security.

The French businessman noted that energy reserves in Europe are already at a low level. According to his forecast, if the situation in the Middle East does not stabilize within two to three months, the European region will face a shortage of resources. Pouyanne also clarified that the situation may become similar to that in which some Asian countries are currently located.

"There is no shortage in the Atlantic basin yet <...> but we cannot afford to leave 20% of the world's oil and gas reserves inaccessible without serious consequences," he said.

The development of the market situation will depend on the duration of the crisis in the Strait of Hormuz. Pouyanne called solving the issue of the reliability of this transport artery a key one and recalled that due to the military conflict between the United States and Iran, his company lost 15% of its production in the Middle East region.

The consequences of the blockade of the Strait of Hormuz may be felt before the end of the year. What the media is writing

On April 23, US President Donald Trump announced that until an agreement with Iran is concluded, not a single vessel in the Strait of Hormuz will enter or leave without the approval of the US Navy. According to the American leader, the United States currently has "full control" over the Strait of Hormuz.

At the same time, Bloomberg reported on April 22 that at least 34 tankers and gas carriers associated with Iran had passed through the strait, despite the American blockade. In addition, 17 vessels were loaded, which indicates the continuation of energy exports from Iran, despite threats from the United States.